Money Management

Five Important Money Saving Tips

As we head into the festive period, we inevitably head into a period of heavy spending. Every year, we have to pay for food, drinks and presents (amongst other things), so costs can soon add up.

So, to help you prepare for Christmas this year, you may want to take a look at the following five important money-saving tips.

Sell your old stuff on sites like eBay

If your cupboards are cluttered with old items of clothing, CDs, movies and books that you no longer use/need, instead of throwing it out, why not sell it online? Sites such as eBay allow you to buy and sell unwanted/second-hand items – and even brand new items at discounted prices.

For example, if you are looking to sell a selection of your old books, you could put each one up for sale at $3 with a small postage and packaging charge. That way, instead of getting nothing from them by throwing them away, you will get a few dollars from each one by selling them.

Learn how to say ‘no’

When you next go shopping and you see a really nice top or pair of shoes, instead of buying them and wasting your hard-earned cash…just learn to say ‘no’. The people who can’t resist the urge are usually the ones with large credit card debts.

By telling yourself to not buy the item you ‘want’, you will save yourself money immediately. Although the latest CD or movie is a tempting purchase, do you really need it? If not…put it back and say ‘no’.

Don’t just jump in the car…walk

If you’re only heading round to the local store, why bother driving there? It will cost you money in gas and it’s a bit lazy. So, to save yourself money here, you should walk. Not only will you save a bit of cash, but it will also keep you fit…there’s nothing like a nice walk to get some fresh air!

Cancel your unwanted subscriptions

If you’ve got a subscription to cable TV, a subscription to a fashion magazine and a subscription to a local club – just have a think about how much money you are actually spending. It could be in excess of $100. And now have a think about how much that extra $100 could help you out during the festive period.

So, cancel any subscriptions that you no longer use/want, and save yourself some money!

Shop online

One of the best ways to save yourself money this Christmas is to do your shopping online. This is because online shopping tends to be cheaper and have a greater range of products on show than shopping in the local stores.

In addition, if you shop online, it means you don’t have to fight your way through the local stores nearer Christmas – you can just sit at your computer and your purchases will arrive at your door (within a few days, of course).

This is a guest post about some money saving ideas written by the writers over at the IVA Advisory centre.

Comments (5)

  • Personal Finance Buzz…

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  • Five Important Money Saving Tips…

    As we head into the festive period, we inevitably head into a period of heavy spending. Every year, we have to pay for food, drinks and presents (amongst other things), so costs can soon add up….

    Reply
  • My wife and I now plan the majority of our holiday gift budget by using gift cards redeemed from SwagBucks and from our credit card rewards. This can be a great way to budget for presents throughout the year so you are not hit with huge bills all at once.

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    • That’s a great idea. I need to get into SwagBucks more.

      Reply
  • I really like your idea about buying online! I can research the lowest price, compare items, get ideas for gifts and all from my lazy boy! This cuts down on impulse spending–but then I feel sorry for local businesses. I try to do some buying locally also! Good points!

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